Intelligent Transportation System (ITS) market size, in terms of value, is expected to grow from USD 36.10 billion in 2015 to USD 63.66 billion by 2022, at a CAGR of 8.3% between 2016 and 2022. The railway system, which is a backbone of the transportation systems in many regions, is becoming increasingly complex.

“Growing concerns toward security and surveillance to drive the intelligent transportation system (ITS) market for the railway transportation mode”

The transformation of railway transportation to the railway intelligent transportation system (RITS) is being adopted as a strategy to gain a competitive edge over other modes of transportation. The increasing need for safety in this mode of transportation can be fulfilled by deploying various intelligent techniques.

“Customer management is the major application of ITS for railway”

Intelligent transportation system Industry is increasingly being deployed in railway transportation systems for customer management. In this segment, ITS has applications in various areas such as traveler information, on-train security & surveillance, station security & surveillance, real-time display, on-train multimedia system, and others.

“Intelligent transportation system market in APAC to grow at the highest CAGR”

The APAC region holds a tremendous potential for the intelligent transportation system market soon and is expected to grow at the highest CAGR during the forecast period. The increasing number of mega cities and the population growth in developed and developing countries has increased the importance of deploying an intelligent transportation system industry. The demand for ITS in APAC is significantly driven by the strong economic growth, rising population, and rapid urbanization.

The report will help the market leaders/new entrants in this market in the following ways:

1. This report segments the ITS market comprehensively and provides the closest approximations of the overall market size and that of the sub segments across the different verticals and regions.

2. The report helps stakeholders to understand the pulse of the market and provides them information on key market drivers, restraints, challenges, and opportunities.

3. This report would help stakeholders to better understand their competitors and gain more insights to enhance their position in the business. The competitive landscape section includes competitor ecosystem, new product developments, partnerships, and mergers & acquisitions in the ITS market.

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